(All Taxes and Duties of Central ,State and Local body Government except customs or import duties which functions as International Trade Balancer).
- This deduction is to be effected on receiving/credit accounts only.
- This deducted amount will be credited to different Government levels like Central, State and Local
(say 0.7%, 0.6%, 0.35% respectively).
- Transacting Bank will also have its share in this amount as the bank has a key role to perform
This means, Cash Transactions above this limit will NOT enjoy any legal protection.